Kaiser Aluminum Corp

Industrials
Metal Fabrications
www.kaiseraluminum.com

Earnings Score
Moat Score
Safety Score

Market Cap $1.29B
PE 27
Debt $1.04B
Cash $64.00M
EV $2.27B
FCF $50.00M

Earnings

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Sales & Net Margins

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Earnings	$47.20M
EBIT	$87.30M
ROE	7%
ROA	4%
FCF	$50.00M
Equity	$667.00M
Growth Stability	-123%
PE	27.39
PEG	16.04
PB	1.94
P/FCF	25.86
P/S	0.43
Price/Cash	0.05
Debt/Equity	1.56
Debt/FCF	20.82
Net Margins	2%
Gross Margins	11%
Op. Margins	3%
Earnings CAGR	-5%
Sales Growth YoY	1%
Sales Growth QoQ	-3%
Sales CAGR	13%
FCF CAGR	-1%
Equity CAGR	-3%
Earnings Stability	0.09
Earnings Growth YoY	122%
Earnings Growth QoQ	287%
Earnings CAGR 5Y	2%

Sales CAGR 5Y	26%
FCF CAGR 5Y	-7%
Equity CAGR 5Y	-3%
Earnings CAGR 3Y	-2%
Sales CAGR 3Y	-2%
FCF CAGR 3Y	44%
Equity CAGR 3Y	-1%
Market Cap	$1.29B
Revenue	$2.98B
Dividend Yield	4%
Payout Ratio	107%
Assets	$2.31B
Total Debt	$1.04B
Cash	$64.00M
Shares Outstanding	16.06M
EV	2.27B
Earnings Score	5%
Moat Score	59%
Safety Score	39%
Final Score	34%
Working Capital	612.7M
Current Ratio	2.6
Gross Profit	$334.90M
Shares Growth 3y	1%
Equity Growth QoQ	1%
Equity Growth YoY	4%

Assets & ROA

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Stockholders Equity & ROE

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Kaiser Aluminum Corp produces and sells semi-fabricated specialty aluminum products primarily to industrial customers. The firm purchases primary and scrap aluminum, primarily from its five largest suppliers, and processes it into specialized value-added products. The company hedges its aluminum costs in an attempt to match commodity price changes between the time it purchases the raw materials and sells the finished products. Kaiser produces high-strength aluminum products for the aerospace industry, specialized aluminum extrusions for the automotive industry, and also sells products to customers in the general engineering industry. Nearly all of Kaiser's revenue is generated in the US, with the remainder coming from Canada. The company's operations are also located in the US and Canada.

SEC Filings

Direct access to Kaiser Aluminum Corp (KALU) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Kaiser Aluminum Corp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Kaiser Aluminum Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR -5%

Stability 9%

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Kaiser Aluminum Corp Discounted Cash Flow

Fully customizable DCF calculator online for Kaiser Aluminum Corp.

Years

Calculation mode

= $466M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$50M	$49M	$49M	$48M	$48M	$47M	$47M	$46M	$46M	$45M	$45M	$450M
DCF		$45M	$40M	$36M	$33M	$29M	$26M	$24M	$21M	$19M	$17M	$173M
Value	$466M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	5%	-17%	7%	3%	6%	4%	2%	-1%	-1%	2%	2%
ROA	-	-28%	12%	11%	10%	8%	4%	3%	0%	4%	4%
ROE	-	-31%	11%	6%	12%	8%	4%	-3%	-5%	7%	7%

Bad Net Margins (1.76%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	2.07	4.18	5.6	4.87	2.86	5.41	48.43	-5.05	15.14	20.82
Debt over Equity	0.39	0.26	0.46	0.5	0.5	0.67	1.14	1.5	1.64	1.59	1.56
Growth Stability	-	-	-	-	-	81%	43%	-30%	-123%	-	-123%

Bad Debt/FCF ratio (20.82)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Bad Debt/Equity ratio (1.56)

The company is overleveraged and has a bad balance between equity and debt.

Bad Graham’s Stability (-123%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	3%	-4%	5%	13%	-5%	-23%	124%	31%	-10%	26%
Earnings YoY growth	-	-430%	-139%	-50%	102%	-32%	-54%	-164%	60%	-259%	2%
Equity YoY growth	-	-24%	4%	-7%	-1%	-1%	-0%	-5%	-9%	3%	-3%
FCF YoY growth	-	48%	-8%	-25%	15%	126%	-10%	-86%	-1K%	-133%	-7%